FEBRUARY 20188TBy Saurabh Kochhar, CEO & Co-Founder, Foodpanda IndiaGurgaon headquartered Foodpanda brings good food into the everyday, whether delivering on our signature pink bikes or serving insights into the newest food trends and showcasing local favorite restaurants.oday's on-demand economy has disrupted businesses across industries, and the Indian food plate is no ex-ception. In the past few years, the Indian food industry has seen a lot of action with technology perme-ating across processes, transform-ing how food is produced, sourced, delivered, and consumed, making way for new business avenues and growth opportunities. Rising dis-posable incomes, increasing priori-ty for convenience, tech-savvy mil-lennial demographics, and the filip provided by the internet and mobile revolution are just few of the many reasons that have propelled the de-mand for foodtech in India. The Indian food tech industry is beginning to flourish with the Food Services market (organized and un-organized) reaching an estimated ` 3, 37,500 crore in 2017 to reach ` 5, 52,000 crore by 2022 grow-ing at CAGR of 10%. (Source: Tech-nopak-FICCI report 2017). However, there exist certain impediments to the growth of the industry, impact-ing profitable growth of business operations. Policy developments, li-censing requirements, perishability, industry fragmentation and prob-lems with training and retaining staff are issues that have tradition-ally plagued the food industry. And there are limitations to what tech-nology can offer in this context. However where technology and the related innovations can actual-ly make a mark is bringing together the best of speed, accuracy and de-livery. Technological innovation can be a game-changer driving sustain-able growth for the industry on the back of basic catalysts ­ Mobile de-vices and Internet. Consumers are now closer to their favourite meal with digitized experiences, cus-tomization and convenience, with just a few taps and swipes. With IN MY OPINIONFoodTech industry's DNAInnovation:
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